Sudhakar (Asst) (31 Points)
30 March 2014
Deepak Gupta
(CA Student)
(15922 Points)
Replied 30 March 2014
| Originally posted by : Sudhakar | ||
 |
suppose if 15000 is paid as health insurance premium for self and 20000 for parents whether this amount can be claimed as deduction excluding 100000 what I mean to ask is my deduction will be restricted to 100000 or as I think 135000 will be eligible for deduction from total income directly |  |
Deduction allowed u/s 80D:
.
For self 15,000 + 15,000 for parent (if below 60 years) = 30,000
.
For self 15,000 + 20,000 for parent (if above 60 years) = 35,000
.
The restriction of 1,00,000 u/s 80CCE is applicable for aggregate of deductions u/s 80C,80CCC and 80CCD and not for 80D.
.
So, you are eligible for deduction of 1,00,000 + 30,000/35,000 (as the case may be)
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 30 March 2014
Yes, you can claim Rs.1,35,000 as deduction, provided the health insurance premium of Rs20,000 paid for parents are allowed only when they are senior citizen, otherwise Rs.15000 allowed. Then in such case, you can claim Rs1,30,000 as deduction.
Regards
CAclubindia
